COMPUTER ACCOUNTING WITH QUICKBOOKS ONLINE ACTUAL TEST QUESTIONS AND SOLUTIONS COMPREHENSIVE REVIEW PACKAGE.pdf

COMPUTER ACCOUNTING WITH
QUICKBOOKS ONLINE ACTUAL TEST
QUESTIONS AND SOLUTIONS
COMPREHENSIVE REVIEW PACKAGE

●● Inventory Tracking
Answer: Manages stock levels and sales efficiently.


●● Project Tracking
Answer: Monitors job costs and profitability for projects.


●● Custom Fields
Answer: Limited to transactions; higher subscription needed for vendors.


●● User Access Customization
Answer: Available in QuickBooks Online Advanced only.


●● Billable Users
Answer: Standard users and Primary Admins count towards limits.


●● Admin Rights Transfer

,Answer: Primary admin can transfer rights to a new admin.


●● Dashboard Functionalities
Answer: Provides overview of banking transactions and customer
invoices.


●● Classes
Answer: Tracks profitability by segments like departments.


●● Locations
Answer: Tracks profitability by geographical areas.


●● Project Statuses
Answer: Includes in progress, completed, and canceled options.


●● Managing Terms
Answer: Impacts payment schedules and cash flow management.


●● Default Terms
Answer: Set in Account & Settings for transactions.


●● Importing Lists

, Answer: Allows importing Products, Customers, and Chart of Accounts.


●● Recurring Transactions
Answer: Automates regular billing and transaction reminders.


●● Scheduled Transactions
Answer: Recorded automatically by QuickBooks Online.


●● Reminder Transactions
Answer: Prompts users to record transactions manually.


●● Unscheduled Transactions
Answer: Displayed for user selection and management.


●● Data Import Overview
Answer: Import customers, vendors, accounts, and products/services.


●● Sample File
Answer: Downloadable file for correct formatting during import.


●● Common Import Issues